Northern Trust Corp Has $37.41 Million Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Northern Trust Corp increased its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 20.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,159,408 shares of the real estate investment trust's stock after purchasing an additional 538,089 shares during the period. Northern Trust Corp owned approximately 1.57% of Sunstone Hotel Investors worth $37,407,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SHO. Principal Financial Group Inc. increased its holdings in shares of Sunstone Hotel Investors by 645.6% during the 4th quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust's stock valued at $98,929,000 after acquiring an additional 7,234,862 shares during the last quarter. Centersquare Investment Management LLC acquired a new position in Sunstone Hotel Investors during the fourth quarter valued at approximately $15,653,000. Cbre Investment Management Listed Real Assets LLC raised its position in shares of Sunstone Hotel Investors by 22.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust's stock valued at $55,488,000 after purchasing an additional 851,104 shares during the period. Norges Bank acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter worth $8,659,000. Finally, APG Asset Management US Inc. bought a new stake in shares of Sunstone Hotel Investors during the 4th quarter worth $7,838,000. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock opened at $8.62 on Friday. Sunstone Hotel Investors, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a fifty day moving average price of $8.94 and a two-hundred day moving average price of $10.43. The firm has a market capitalization of $1.71 billion, a P/E ratio of 11.34, a P/E/G ratio of 4.52 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $234.07 million during the quarter, compared to the consensus estimate of $243.34 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. As a group, analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Monday, June 30th. Sunstone Hotel Investors's dividend payout ratio is currently 360.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SHO shares. Truist Financial cut their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Bank of America raised Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 target price on the stock in a report on Wednesday, April 30th. Wells Fargo & Company cut their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Evercore ISI lowered their price objective on shares of Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley cut their target price on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $10.25.

Sunstone Hotel Investors Profile

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.

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